India will continue to be the world’s fastest growing large economy for many decades to come: Piyush Goyal
By TAC
The Union Minister for Commerce and Industry, Textiles and Consumer Affairs, Food and Public Distribution Piyush Goyal addressed the Asia Economic Dialogue in Pune on Saturday. The Minister stated that India would be the third largest economy in four years or so, at best five years. “My own conviction about the way India is growing is that we will drive our economy probably closer to 35 – 40 trillion-dollar economy by 2047. The desire of every Indian is to be second to none.”
The Minister exhorted the industry to be proud of their achievements, of our strong macroeconomic fundamentals, about the reforms done in the past few years. “We believe India not only is the fastest growing large economy, we will continue to be so for many decades to come.”
The Russia-Ukraine conflict has had a severe effect on the developed world more than the developing countries. For food security and energy security and consequential impact on inflation, interest rates and growth, it has had a devastating effect on both developed and developing countries, he added.
On a question on promoting green businesses, the Minister said that while the developed world is the largest contributor to climate change, they are preaching to us today about what we should be doing despite us being only 2.5% of contributors to carbon emissions.
The Minister told the industry that the government has undertaken game-changing reforms for the empowerment of people. The aspiration of young population in India for the good things of life will drive the Indian economy and help us become a 47 trillion dollar economy by 2047, he added.
